Obama is Incapable of Admitting his TPP Disaster: Nobel Prize Winner Explains Economics

Nobel Prize-winning economist Joseph Stiglitz speaks to Democracy Now! about the mistakes he believes our president is making in regards to the Trans-Pacific Partnership and the ways in which it will hand over control to corporations in America.

JOSEPH STIGLITZ: Yeah. And the irony is that the president came out and said, “This is about who makes the trade rules—China or the United States?” But I think the big issue is, this is about who makes the rules of trade—the American people, our democratic process, or the corporations? And who they’re made for, which is, for the corporations or for all of us?

AMY GOODMAN: You don’t think President Obama understands that?

JOSEPH STIGLITZ: No.

AMY GOODMAN: You don’t think he understands it, or he—

JOSEPH STIGLITZ: I think he wants to chalk up some kind of an achievement, i.e. he can’t pass anything through Congress because the Republicans won’t allow him, so he has to get something that the Republicans want. And they want a trade agreement.

Watch.